Question to the Department for Business, Innovation, Science and Trade:

To ask His Majesty's Government, further to the Written Answer by Baroness Lloyd of Effra on 5 March (HL14704), how many potential private investors or purchasers they have formally approached regarding British Steel since its transfer into public ownership; and what timetable they have established for seeking private investment.

The Government recognises that securing the long-term future of the UK’s steel sector relies on both public and private investment for modernisation. Following acquisition of British Steel in July, we have now started to test private sector sentiment around potential investment to inform any Government decisions on the future of steelmaking at Scunthorpe. Government’s ambition is a sustainable steel company that can stand on its own two feet, which is the best way of delivering long term stability for those employed at British Steel. While no decisions on investment in British Steel have been taken, my department will keep the House updated as a timetable emerges.